Zoom In IconArrows pointing outwards OpenAI’s Instant Checkout Courtesy of OpenAI OpenAI on Monday announced Instant Checkout, a new feature that allows users to buy products through its artificial intelligence chatbot ChatGPT. Instant Checkout initially supports single-item purchases directly from U.S. Etsy sellers, and it’s available to U.S. ChatGPT Plus, Pro and Free users. OpenAI…
Opendoor co-founder and newly minted board chair Keith Rabois said remote work and a “bloated” workforce have been a drag on the company’s culture, as he vowed to slash headcount. “There’s 1,400 employees at Opendoor. I don’t know what most of them do. We don’t need more than 200 of them,” Rabois told CNBC’s “Squawk…
Keith Rabois of Khosla Ventures attends Day 3 of TechCrunch Disrupt SF 2013 at San Francisco Design Center on September 11, 2013 in San Francisco, California. Steve Jennings | Getty Images Opendoor, the online real estate platform that’s seen a surge of retail investor interest in recent months, said Wednesday that it’s tapped former Shopify…
The de minimis exemption, an obscure trade law provision that has simultaneously fueled and eroded businesses across the globe, officially came to an end on Friday following an executive order by President Donald Trump. For nearly a decade, shipments valued under $800 were allowed to enter the country virtually duty-free and with less oversight. Now,…
Affirm stock popped 20% Friday after the buy now, pay later firm beat Wall Street’s expectations across the board in its fiscal fourth-quarter results. The stock was already up 31% this year heading into the report, outpacing the Nasdaq’s 12% gain. Earnings came in at 20 cents a share and nearly doubled analyst expectations, with…
Max Levchin, co-founder of PayPal and chief executive officer of financial technology company Affirm, arrives at the Sun Valley Resort for the annual Allen & Company Sun Valley Conference, in Sun Valley, Idaho. Drew Angerer | Getty Images Affirm shares rose 15% in extended trading on Thursday after the provider of buy now, pay later…
The logos of Google Gemini, ChatGPT, Microsoft Copilot, Claude by Anthropic, Perplexity, and Bing apps are displayed on the screen of a smartphone in Reno, United States, on November 21, 2024. Jaque Silva | Nurphoto | Getty Images In the world of online payments, the buzzword these days is frictionless, as companies entice customers with…
When venture capitalist Keith Rabois got into e-commerce, he couldn’t stop buying brands. Now, everything must go. OpenStore, co-founded by Rabois in 2021, is shutting down nearly all of the 40-plus Shopify stores it acquired, and it’s in the process of liquidating any remaining inventory by offering steep discounts to move merchandise. Earlier this week,…
Alphabet CEO Sundar Pichai during the Google I/O developers conference in Mountain View, California, on May 10, 2023. David Paul Morris | Bloomberg | Getty Images Google executives are pushing employees to act with more urgency in their use of artificial intelligence as the company looks for ways to cut costs. That was the message…
PayPal reported better-than-expected results for the second quarter but saw slowing growth in transaction margin dollars, a key measure of profitability. The stock slipped more than 8% following the report. Here’s how the company did compared with Wall Street estimates, based on a survey of analysts by LSEG: Earnings per share: $1.40 adjusted vs. $1.30 expected…
